Japan To Support Private Companies In Space Exploration

In Tokyo, the Japanese government will support private companies in their business endeavors in space. In fact, Japan is set to facilitate public lending as well as offer assistance to cover financial damages in case of catastrophic accidents.

According to Nikkei Asian Review, Tokyo will set up a system to limit risks associated with operating satellites. A space business plan with a program that combines private insurance and government guarantees will help cover liabilities that come as a result from rocket launches. The program is expected to expand in order to cover accidents in space, including satellite collisions.

There are currently thousands of satellites already orbiting Earth. This means that if a newly launched satellite hits another in the field, the responsible party could face a huge damage claim. It is a problem that countries like Britain and the Netherlands are skirting with legal frameworks to help their own private companies.

Although considered a latecomer in the business, in November 2016, the Japanese government issued a Space Activities Act. It has also established a system for licensing and launching rockets, as well as the operation of satellites by these private sector companies.

Japan's plans also include setting up more launch pads for smaller satellites, a need that is rising for private sectors. Today, only the Tanegashima and Uchinoura space centers in Kagoshima have such facilities. Therefore, the government is now accepting applications from localities that are willing to be hosts to space centers.

Parabolic Arc noted that aside from the technological development and financing, Japan's Space Activities Act is also designed to determine the success or failure in its space business. It is expected to give a major boost to the business in Japan. In line with this, it not only has the technological strength for such endeavor but a great potential in the field as well. Soon, the world will see startups from Japan launching small rockets carrying satellites into orbit.